Can anyone explain what this means:MetrocoalLtd (ASX:MTE) is...

Can anyone explain what this means:

Metrocoal
Ltd (ASX:MTE) is currently gaining and seeking expressions of interest
for a joint venture partner on the Wandoan West tenement (EPC 1164),
following the granting of a waiver by its Columboola project JV partner,
Sinocoal Pty Ltd (the Australian subsidiary of China Coal Import Export
Co Ltd).
Metrocoal has previously advised that Sinocoal has a pre-emptive
right over all of Metrocoal's existing EPCs.
Sinocoal wishes to concentrate its focus on the highly
prospective JV on the Columboola tenement (EPC 1165) at this time.
Sinocoal's approval, which has certain commercial in confidence
parameters, is only for EPC 1164 and it retains its pre-emptive right to
Metrocoal's other EPCs.